EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

ASSURANT, INC.

 

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES

 

(in millions of U.S. dollars except for ratio amounts)

 

     2003    2004    2005    2006    2007    2008    2009

Income before income taxes

    $ 259.4    $ 535.9    $ 655.6    $ 1,095.7    $ 1,011.0    $ 563.3    $ 709.6

Fixed charges

      13.5      69.0      72.9      74.6      73.9      73.1      74.6
                                                

Income as adjusted

    $ 272.9    $ 604.9    $ 728.5    $ 1,170.3    $ 1,084.9    $ 636.4    $ 784.2

Fixed charges:

                     

Interest expensed, including discount amortization and preferred stock dividends

    $ 1.2    $ 56.4    $ 61.3    $ 61.2    $ 61.2    $ 61.0    $ 60.7

Portion of rents representative of an appropriate interest factor (1)

      12.3      12.6      11.6      13.4      12.7      12.1      13.9
                                                

Total fixed charges

    $ 13.5    $ 69.0    $ 72.9    $ 74.6    $ 73.9    $ 73.1    $ 74.6
                                                

Ratio of consolidated earnings to fixed charges

      20.21      8.77      9.99      15.69      14.67      8.70      10.51
                                                

 

1

Preferred stock issued is recorded as a liability, thus the corresponding dividend is recorded as interest expense